Thursday, May 30, 2013
1 CPE Credit
2 RIVET SOFTWARE © Interactive Financial Management
HOUSEKEEPING
CPE credits will be emailed within
To receive a CPE credi...
3 RIVET SOFTWARE © Interactive Financial Management
WHO IS RIVET
SOFTWARE?
Released
Released
Released
(Released to Open
So...
4 RIVET SOFTWARE © Interactive Financial Management
PRESENTER
Raul Varela, CFA
Vice President of Partnerships
Raul manages...
5 RIVET SOFTWARE © Interactive Financial Management
AGENDA
+ What is Interactive Financial Management?
+ Why XBRL?
+ Lever...
6 RIVET SOFTWARE © Interactive Financial Management
POLLING QUESTION #1
7 RIVET SOFTWARE © Interactive Financial Management
IFM DEFINITION
Interactive Financial Management
The management of fina...
8 RIVET SOFTWARE © Interactive Financial Management
The management of financial reporting, financial control, and financia...
9 RIVET SOFTWARE © Interactive Financial Management
POLLING QUESTION #2
10 RIVET SOFTWARE © Interactive Financial Management
WHAT IS XBRL?
XBRL stands for
eXtensible Business Reporting Language
...
11 RIVET SOFTWARE © Interactive Financial Management
WHAT DOES XBRL
LOOK LIKE?
12 RIVET SOFTWARE © Interactive Financial Management
XBRL
TIMELINE
TIMELINE
Limited liability no longer applies for some p...
13 RIVET SOFTWARE © Interactive Financial Management
XBRL IS
INTERNATIONAL
UK
CA
SPUS
AU
NZ
IR
JP
KR
BE
VZ
CO
BR
AR
PT
RU
...
14 RIVET SOFTWARE © Interactive Financial Management
USERS OF XBRL
15 RIVET SOFTWARE © Interactive Financial Management
16 RIVET SOFTWARE © Interactive Financial Management
POLLING QUESTION #3
17 RIVET SOFTWARE © Interactive Financial Management
WHY MICROSOFT
OFFICE?
PresentationsData / Numbers
18 RIVET SOFTWARE © Interactive Financial Management
LINKING EXCEL TO WORD
Excel
Word
19 RIVET SOFTWARE © Interactive Financial Management
LINKING EXCEL TO
POWERPOINT
Excel
PowerPoint
20 RIVET SOFTWARE © Interactive Financial Management
CASE STUDY:
ENERGY PROVIDER
Manual
Processes
The internal process inc...
21 RIVET SOFTWARE © Interactive Financial Management
Collaborate with team members while creating disclosures. Easily allo...
22 RIVET SOFTWARE © Interactive Financial Management
DISCLOSURE
MANAGEMENT
 Multi-User collaboration
 External review wi...
23 RIVET SOFTWARE © Interactive Financial Management
CASE STUDY:
CARDTRONICS
24 RIVET SOFTWARE © Interactive Financial Management
Handle all the XBRL and EDGAR HTML filing requirements of the SEC
man...
25 RIVET SOFTWARE © Interactive Financial Management
SEC REPORTING
26 RIVET SOFTWARE © Interactive Financial Management
CASE STUDY:
SUSSEX BANK
Multiple
Timelines,
Multiple
Challenges.
Wast...
27 RIVET SOFTWARE © Interactive Financial Management
The key link of the core accounting and finance information into the ...
28 RIVET SOFTWARE © Interactive Financial Management
POLLING QUESTION #4
29 RIVET SOFTWARE © Interactive Financial Management
30 RIVET SOFTWARE © Interactive Financial Management
CASE STUDY:
HELIX ENERGY
Manual Inputs
Helix prepared filing
document...
31 RIVET SOFTWARE © Interactive Financial Management
Build digital board books that link back to your underlying data sour...
32 RIVET SOFTWARE © Interactive Financial Management
33 RIVET SOFTWARE © Interactive Financial Management
CASE STUDY: NATIONAL
HEALTH INVESTORS
Prior to using Crossfire’s SEC ...
34 RIVET SOFTWARE © Interactive Financial Management
POLLING QUESTION #5
35 RIVET SOFTWARE © Interactive Financial Management
The management of financial reporting, financial control, and financi...
36 RIVET SOFTWARE © Interactive Financial Management
CONCLUSION
+ What is Interactive Financial Management?
+ Why XBRL?
+ ...
37 RIVET SOFTWARE © Interactive Financial Management
QUESTIONS?
QUESTIONS?
Interested in learning more about
Microsoft Off...
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Rivet Software Interactive Financial Management CPE Webinar Presentation

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  • History of Rivet
  • History of Rivet
  • Presenters
  • NHI / MIX
  • Manage #’s in ExcelManage Presentation in WordFormatting IntactChange One # - Flows to DocumentTables, Narrative, & String Data
  • Create Management ReportsBoard BooksManage #’s in ExcelManage Presentation in PowerPointFormatting IntactChange One # - Flows to Document
  • Demo.Tagging.
  • Validate data through out the processPreview filingsTest fileFile multiple filings directly – EDGAR HTML & XBRL
  • Takeaway.
  • Takeaway.
  • Management reportsTag comparisonsKPI’s – RatiosPeer ReportsIndustry BenchmarkingFP&A
  • NHI and Willis
  • Rivet Software Interactive Financial Management CPE Webinar Presentation

    1. 1. Thursday, May 30, 2013 1 CPE Credit
    2. 2. 2 RIVET SOFTWARE © Interactive Financial Management HOUSEKEEPING CPE credits will be emailed within To receive a CPE credit you must: 1. Have checked the box when registering and identified your state 2. Answer the polling questions and submit a survey 3. If you have any questions please submit to the Q&A 4. If you have any audio or technical issues let us know through chat
    3. 3. 3 RIVET SOFTWARE © Interactive Financial Management WHO IS RIVET SOFTWARE? Released Released Released (Released to Open Source in 2008, 7500+ downloads) The SEC awarded Rivet contract to create a XBRL filing viewer Rivet completed joint project with Thomson Reuters to create a universal XBRL loader SEC announced XBRL Mandate for corporations and mutual fund companies Rivet established strategic partnership with RR Donnelley & CO. (RRD) Rivet services 1,600 companies for corporate filings & support 4,500 mutual fund filings Rivet terminates services agreement with RRD to refocus on customer satisfaction & software products The SEC awarded Rivet contract to create a rule-based XBRL rendering engine, still in use on SEC.GOV
    4. 4. 4 RIVET SOFTWARE © Interactive Financial Management PRESENTER Raul Varela, CFA Vice President of Partnerships Raul manages the development and direction of Rivet’s strategy for becoming the industry leader in global financial communications. As a former Investment Analyst, he is an expert at identifying market trends and predicting the impacts of new technology on business users. His experience in strategic partnership development and corporate strategy combined with his gift for project management, allows him to provide Rivet with key financial information knowledge along with strong leadership.
    5. 5. 5 RIVET SOFTWARE © Interactive Financial Management AGENDA + What is Interactive Financial Management? + Why XBRL? + Leveraging Microsoft Office + Disclosure Management + SEC Reporting + Data Automation + Interactive Reporting
    6. 6. 6 RIVET SOFTWARE © Interactive Financial Management POLLING QUESTION #1
    7. 7. 7 RIVET SOFTWARE © Interactive Financial Management IFM DEFINITION Interactive Financial Management The management of financial reporting, financial control, and financial decision-making enabled by XBRL -- the global language of finance. Interactive Financial Management provides the capabilities to extend the “last mile of finance” to the “next mile of finance”.
    8. 8. 8 RIVET SOFTWARE © Interactive Financial Management The management of financial reporting, financial control, and financial decision-making enabled by XBRL -- the global language of finance. Interactive Financial Management provides the capabilities to extend the “last mile of finance” to the “next mile of finance”.
    9. 9. 9 RIVET SOFTWARE © Interactive Financial Management POLLING QUESTION #2
    10. 10. 10 RIVET SOFTWARE © Interactive Financial Management WHAT IS XBRL? XBRL stands for eXtensible Business Reporting Language It is a language for the electronic communication of business information, providing major benefits in the preparation, analysis and communication of business information. It offers cost savings, greater efficiency and improved accuracy and reliability to all those involved in supplying or using business information.
    11. 11. 11 RIVET SOFTWARE © Interactive Financial Management WHAT DOES XBRL LOOK LIKE?
    12. 12. 12 RIVET SOFTWARE © Interactive Financial Management XBRL TIMELINE TIMELINE Limited liability no longer applies for some public companies from August 2011. By August 2013, Limited Liability will expire for most public companies. LIABILITY After Limited Liability expires, XBRL financial information filed will be subject to the same level of liability as other financial information filed.
    13. 13. 13 RIVET SOFTWARE © Interactive Financial Management XBRL IS INTERNATIONAL UK CA SPUS AU NZ IR JP KR BE VZ CO BR AR PT RU SG HK NO SE PL FI IT CN IN LB CZ UA LU IAS B AE NL TR GR MT CH FR SI HU AT Established Jurisdictions Provisional Jurisdictions in Construction & in Project DE DK ZA
    14. 14. 14 RIVET SOFTWARE © Interactive Financial Management USERS OF XBRL
    15. 15. 15 RIVET SOFTWARE © Interactive Financial Management
    16. 16. 16 RIVET SOFTWARE © Interactive Financial Management POLLING QUESTION #3
    17. 17. 17 RIVET SOFTWARE © Interactive Financial Management WHY MICROSOFT OFFICE? PresentationsData / Numbers
    18. 18. 18 RIVET SOFTWARE © Interactive Financial Management LINKING EXCEL TO WORD Excel Word
    19. 19. 19 RIVET SOFTWARE © Interactive Financial Management LINKING EXCEL TO POWERPOINT Excel PowerPoint
    20. 20. 20 RIVET SOFTWARE © Interactive Financial Management CASE STUDY: ENERGY PROVIDER Manual Processes The internal process included typing hundreds of changes into a Word document, printing it out, handwriting additional changes, then walking upstairs to the SEC Accountant office and handing her the printed changes. Every time a number changed it had to be updated manually throughout the entire document. Robust linking from Excel to Word Changing a number in their spreadsheet once and updating it automatically throughout their Word document. 1000+ Links Crossfire linking allowed them to change a number in MS Excel and update it automatically throughout their MS Word Document. CHALLENGE SOLUTION RESULT
    21. 21. 21 RIVET SOFTWARE © Interactive Financial Management Collaborate with team members while creating disclosures. Easily allow internal and external team members to review content with in disclosures. Work simultaneously with others on a single disclosure.
    22. 22. 22 RIVET SOFTWARE © Interactive Financial Management DISCLOSURE MANAGEMENT  Multi-User collaboration  External review with Ease (Auditors/Legal)  Multiple documents with single data set  Version control (No pencils down!)
    23. 23. 23 RIVET SOFTWARE © Interactive Financial Management CASE STUDY: CARDTRONICS
    24. 24. 24 RIVET SOFTWARE © Interactive Financial Management Handle all the XBRL and EDGAR HTML filing requirements of the SEC mandate. Select tags once and reuse quarter to quarter including the formatted EDGAR HTML. Roll forward your disclosure with a few clicks taking seconds instead of days.
    25. 25. 25 RIVET SOFTWARE © Interactive Financial Management SEC REPORTING
    26. 26. 26 RIVET SOFTWARE © Interactive Financial Management CASE STUDY: SUSSEX BANK Multiple Timelines, Multiple Challenges. Wasted time using outdated processes instead of focusing on the quality of our data. Sussex Implements Crossfire Crossfire’s Filing Wizard allowed Sussex to file their HTML and XBRL directly to the SEC. $4,000 saved and 5 days gained. By using the Filing Wizard, the team completed their HTML and XBRL review two days prior to their deadline. CHALLENGE SOLUTION RESULT
    27. 27. 27 RIVET SOFTWARE © Interactive Financial Management The key link of the core accounting and finance information into the last mile of financial reporting. Provides easy access to financial information based on the accounting structure of the information (the chart of accounts in many cases) instead of a more complex IT view into the data.
    28. 28. 28 RIVET SOFTWARE © Interactive Financial Management POLLING QUESTION #4
    29. 29. 29 RIVET SOFTWARE © Interactive Financial Management
    30. 30. 30 RIVET SOFTWARE © Interactive Financial Management CASE STUDY: HELIX ENERGY Manual Inputs Helix prepared filing documents by manually entering data from various spreadsheets, combining email and pdf documents, and by copying and pasting from various enterprise resource planning (ERP) and business process management (BPM) solutions. Data Automation Data could be moved directly from the company’s ERP solution into a platform, where tagging and validation are easily applied and verified. Instant & Accurate Data The data connector between their Oracle ERP and their SEC filing platform worked seamlessly. This process alone saved their team considerable time as normally we would have to hand type all of the financial data into our periodic reports. now it populates instantly and accurately. CHALLENGE SOLUTION RESULT
    31. 31. 31 RIVET SOFTWARE © Interactive Financial Management Build digital board books that link back to your underlying data source. Drill down to the details that make up the number reported. Merge internal data with external data from the SEC to easily create peer comparisons and benchmark reports. Take your information to the next mile of finance.
    32. 32. 32 RIVET SOFTWARE © Interactive Financial Management
    33. 33. 33 RIVET SOFTWARE © Interactive Financial Management CASE STUDY: NATIONAL HEALTH INVESTORS Prior to using Crossfire’s SEC Data Feed, NHI manually used SEC.gov, created complex formulas, calculated numbers, created PDF pages, and then finally emailed the files to the executive team. “We’re now able to get answers in minutes instead of hours. In our industry, being able to quickly know what (and how) our peers are doing makes all the difference,” states Bell. NHI demanded more from XBRL and Crossfire delivered. Rivet’s Crossfire enabled NHI to strategically turn the SEC XBRL mandate into better analytics and better data throughout their entire organization. FAST & ACCURATE COMPETITOR ANALYSIS
    34. 34. 34 RIVET SOFTWARE © Interactive Financial Management POLLING QUESTION #5
    35. 35. 35 RIVET SOFTWARE © Interactive Financial Management The management of financial reporting, financial control, and financial decision-making enabled by XBRL -- the global language of finance. Interactive Financial Management provides the capabilities to extend the “last mile of finance” to the “next mile of finance”.
    36. 36. 36 RIVET SOFTWARE © Interactive Financial Management CONCLUSION + What is Interactive Financial Management? + Why XBRL? + Leveraging Microsoft Office + Disclosure Management + SEC Reporting + Data Automation + Interactive Reporting
    37. 37. 37 RIVET SOFTWARE © Interactive Financial Management QUESTIONS? QUESTIONS? Interested in learning more about Microsoft Office best practices? Join us for a 1 CPE Credit webinar on Wednesday, June 12th 11am ET
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